Six Tips For Taking Your Franchise Global

Entrepreneur.com:

“International expansion is not for the faint of heart,” warns Mark Siebert, founder and CEO of franchise consulting firm iFranchise Group. “It’s for companies who are really committed to it.” Here, Siebert offers his advice on how to make your concept a success outside the U.S.

1. Make sure you have the resources to support international expansion. Leads from foreign countries can be tempting, but don’t rush in. It requires time, effort, people and capital to successfully transition a domestic franchise to an international market.

2. Choose which international market to expand into. That’s right–market, not markets. “Going into a foreign market is a significant endeavor,” Siebert says. “Don’t go into multiple markets at once. Choose one or two at most to focus on in the short term.” There are a number of different factors to consider in choosing which markets to target, including time zones, language, laws, customs and competitors.

3. Decide on the structure for your international franchisingread on.

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